The Chinese Military and Surveillance Company Sanction Act of 2021 protects U.S. national security and limits western capital from fueling Chinese Communist Party (CCP) military and surveillance companies.
Washington, D.C.— U.S. Representative Andy Barr (R-KY), unveiled legislation to target sanctions against Chinese Communist Party (CCP) military or surveillance companies. Rep. Barr, a member of the House Foreign Affairs and Financial Services Committees, crafted the bill as part of a broader effort by Republicans on the Financial Services Committee to combat the rise of the CCP.
Rep. Barr’s proposal requires the President to sanction CCP military companies included on the U.S. Department of Defense’s annual listing and other Chinese military and surveillance companies that pose a risk to U.S. national security. JulieGrace Brufke of the New York Post broke the news of this bill introduction in this report.
“My legislation protects U.S. national security and the privacy of every American by imposing sanctions on companies clearly identified as Chinese Communist Party (CCP) military or surveillance companies,” said Congressman Barr. “Without question, these companies present real and imminent threats to national security, and my bill would limit their access to capital and investment.
“This proposal combats these threats without trying to beat China by becoming China,” Barr added. “I am committed to preserving our free market, capitalist economic principles while confronting the national security challenges we face from the CCP.”
Congressman Barr serves as the lead Republican on the Financial Services Subcommittee on National Security, International Development and Monetary Policy, with jurisdiction over sanctions. Congressman Barr previously authored the Otto Warmbier North Korea Nuclear Sanctions Act, which passed with broad bipartisan support and was signed into law by President Trump in 2019. These sanctions represented the toughest sanctions on North Korea in a generation. Additionally, Congressman Barr had a key role in devising and passing the Nord Stream 2 sanctions that were waived by President Biden earlier this year.